- The proposed Settlement Agreement concerns allegations that:
- between February 2014 and September 2014, the Respondent processed five (5) trades in the accounts of one (1) client without the client’s authorization, contrary to MFDA Rules 2.3.1 and 2.1.1;
- between February 2014 and November 2014, the Respondent falsified the signature of one (1) client on five (5) account forms, contrary to MFDA Rule 2.1.1;
- in February 2014, the Respondent completed Know-Your-Client information on an account form in respect of one (1) client without having met or discussed the information with the client, contrary to MFDA Rule 2.1.1; and
- in February 2014, the Respondent, without client authorization, changed one (1) client’s address on the Member’s back office system so that it falsely appeared that the client was a resident of Ontario, thereby enabling the Respondent to circumvent the Member’s prohibition on processing trades in the accounts of clients who did not reside in Ontario, contrary to MFDA Rule 2.1.1.
- The hearing is open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the Settlement Agreement, then copies of the decision of the Hearing Panel and the Settlement Agreement will be made available to the public.
Sarah RickardSarah RickardDirector of Regional Councils
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
E-mail: [email protected]